Question

How many steps are typically involved in the assumption setting process?

a.

Four

b.

Five

c.

Six

d.

Seven

Answer: (c).Six Explanation:The assumption setting process generally consists of six steps: historical experience analysis, determining best estimates, considering future conditions, adjusting best estimates, assessing reliance on data, and incorporating margins for prudence.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How many steps are typically involved in the assumption setting process?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!